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Why expats need a Spanish bank account

A local bank account simplifies daily life: paying rent, utilities, and community fees; receiving salary or pension payments; and setting up direct debits for healthcare and schooling. For property buyers, Spanish banks require accounts to collect mortgage payments and insurance premiums. Having local banking also helps when applying for visas like the non-lucrative permit or digital nomad visa, as consulates often request evidence of accessible funds in Spain.

Resident vs non-resident accounts

  • Non-resident accounts are designed for people spending fewer than 183 days per year in Spain. They allow international transfers and debit cards but may restrict credit facilities. You must renew your non-resident status certificate every two years.
  • Resident accounts provide full banking services, including overdrafts, mortgages, and credit cards. Banks require proof of residence, such as a TIE card or EU registration certificate, and evidence of income or employment in Spain.

Many clients start with a non-resident account, then upgrade once they obtain residency. Confirm upgrade policies before choosing a bank.

Documents you need

Prepare the following documents (originals plus copies):

  • Passport or EU national ID.
  • NIE certificate (if available).
  • Proof of address (utility bill, rental contract, or empadronamiento certificate).
  • Proof of income (payslip, pension statement, tax return) or bank statements showing funds.
  • Non-resident certificate (for non-resident accounts).

If documents are in another language, bring sworn translations. Some banks request tax identification numbers from your home country for compliance.

How to obtain the non-resident certificate

  1. Book an appointment at a police station authorised to issue non-resident certificates (certificado de no residente). Many stations in Madrid, Barcelona, and Alicante offer this service.
  2. Complete form EX-15 (the same used for NIE applications) and tick the non-resident certificate option.
  3. Pay fee 790-012 (around €16) at a collaborating bank. Bring the stamped receipt to your appointment.
  4. Attend the appointment with your passport and proof of address. You receive a receipt, and the certificate is usually ready within five working days.
  5. Collect the certificate in person or authorize a representative with a power of attorney to collect it for you.

If you already have an NIE but no residence permit, some banks accept your NIE certificate instead of the non-resident certificate. Always confirm requirements beforehand.

Choosing the right bank

Consider these categories:

  • Traditional banks: CaixaBank, Banco Santander, BBVA, and Sabadell offer extensive branch networks and English-speaking staff in major cities. They’re ideal if you need mortgages or complex services.
  • Online banks: Openbank, N26, Revolut Bank, and Wise provide digital onboarding, low fees, and excellent apps. Some issue Spanish IBANs, which landlords often require.
  • Cajas (regional savings banks): Kutxabank, Unicaja, and Ibercaja can be flexible in regional hubs and may offer competitive rates for property buyers.

Compare account maintenance fees, transfer charges, online banking tools, and language support. Ask whether they support joint accounts and multi-currency cards.

Step-by-step account opening process

  1. Research requirements. Check the bank’s website or speak with a branch to confirm documents.
  2. Schedule an appointment if visiting a branch. Some banks accept walk-ins, but appointments ensure English-speaking staff are available.
  3. Attend the meeting with documents. The bank reviews your KYC information and may ask about your source of funds and planned transactions.
  4. Sign agreements. You’ll sign account contracts, data protection consents, and card issuance forms.
  5. Deposit initial funds. Some banks require a minimum deposit (€50–€300). Bring a debit card from your home bank or arrange a transfer.
  6. Activate online banking. You’ll receive temporary passwords via SMS or email. Update them immediately and enable two-factor authentication.

Digital banks follow a similar process using video identification. Ensure your internet connection is stable and have original documents ready for verification.

Understanding fees and charges

  • Monthly maintenance fees: €0–€20 depending on the account. Premium packages may waive fees if you deposit a minimum monthly income (e.g., €600) or maintain a balance.
  • Debit and credit cards: Some include one free card; additional cards cost €30–€60 annually.
  • International transfers: Traditional banks charge €15–€40 for SWIFT transfers. Use FX specialists for large property transfers to reduce costs.
  • ATM usage: Withdrawals from partner networks are free. Non-partner ATMs charge €1.50–€3.00 per transaction.
  • Currency conversion: Pay attention to dynamic currency conversion on card machines. Always choose to pay in euros to avoid hidden mark-ups.

Managing your account remotely

Most banks offer robust online banking and mobile apps. Tips for remote management:

  • Set up online signatures (firma digital) for high-value transfers.
  • Use biometric login to avoid password resets while travelling.
  • Enable travel notifications on cards to prevent security blocks.
  • Link your account to SEPA direct debits for utilities, insurance, and school fees.
  • Keep copies of IBAN certificates for landlords and employers.

If you plan to spend long periods outside Spain, inform your bank to avoid account freezes under anti-money-laundering rules.

Upgrading to resident status

Once you obtain residency (TIE card or EU registration certificate), inform your bank:

  1. Provide proof of residence and updated NIE if changed.
  2. Submit employment or tax documentation to confirm income.
  3. Sign new agreements reflecting resident status. This may unlock better mortgage rates and remove non-resident account fees.

Keep renewal reminders because banks periodically request updated documentation under KYC regulations.

Common issues and troubleshooting

  • Account frozen for compliance. Respond promptly to bank requests for updated documents. Provide invoices or contracts explaining large transfers.
  • Difficulty receiving SMS codes. Switch to a Spanish SIM or request token-based authentication devices.
  • High fees. Negotiate with your branch manager or switch to digital banks with lower charges.
  • Rejected applications. Some banks avoid certain nationalities due to compliance risk. If refused, try a different institution or work through a relocation service.

FAQs

Can I open a joint account with my partner?

Yes, most banks allow joint accounts. Both partners must present documents and sign agreements. Joint accounts are useful for property purchases and shared expenses.

Do I need to declare my Spanish account in my home country?

Many countries require reporting foreign accounts (e.g., FBAR for US taxpayers). Consult a tax advisor to stay compliant with home-country regulations.

How long does the process take?

In-person openings can be completed in one visit if you have all documents. Digital banks approve accounts within a few hours to a couple of days.

Can I receive salary from abroad?

Yes, Spanish banks accept international salary transfers. Provide employer details if asked, and ensure your account supports SEPA and SWIFT transfers.

This guide is informational; get tailored advice by booking a call.